Nautilus Minerals Inc.

Nautilus Minerals Inc.

November 29, 2007 08:51 ET

Nautilus Minerals Inc.: C$39.1 Million Private Placement Closed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) ("Nautilus" or the "Company") is pleased to announce that it has completed the private placement of Units as set forth in the Company's Information Circular dated October 19, 2007 for gross proceeds of C$39.1 million (equal to US$39.4 million or Pounds Sterling 19.1 million) (the "Placement").

David Heydon, Nautilus' CEO, commented: "The Company is now well positioned to maintain its momentum and exploration with cash on hand of approximately US$295 million (equal to C$292 million or Pounds Sterling 143 million)".

Application has been made for the 10,859,690 common shares issued in connection with the Placement to be admitted to AIM. The common shares are expected to be admitted to trading on December 4, 2007.

The Company currently has in issue:

Common and outstanding shares 142,815,640
Warrants 18,979,725
Options 9,235,656
Fully diluted 171,031,021

Exchange rates used herein: C$1.00 equal to US$1.01 and Pounds Sterling 0.49.

About Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for gold and copper seafloor massive sulphide deposits and is positioned to become an emerging producer in 2010. The Company's main focus for 2008 is the Solwara 1 Project, which is located in the territorial waters of Papua New Guinea in the western Pacific Ocean. Nautilus is listed on the TSX and on AIM, and has among its largest shareholders three of the world's largest international resource companies, including Epion (22.9%), Anglo American (5.8%) and Teck Cominco (5.3%).

Neither the TSX nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Nautilus Minerals Inc. (Toronto)
    Investor Relations
    (416) 551-1100
    Australian Project Office
    +61 (7) 3318 5555
    Numis Securities Limited (NOMAD)
    John Harrison/James Black
    +44 (0) 20 7260 1000
    Conduit PR Ltd (UK Financial PR)
    Arabella Hobbs/ Charlie Geller
    +44(0)7429 6610 / +44 (0) 20 7429 6604